Traditionally, financial systems have been bank-based or market-based. The efficiency properties of these systems are …, and law, finance and politics. Both systems have advantages and disadvantages. With regard to stability, both bank …

estimated New Keynesian model with a bank. A key dimension of policy in the crisis was massive government support for banks … effects of bank asset losses, of government support for banks, and other fiscal stimulus measures, in the EA. Our results …

A model of loan rate competition with liquidity provision by banks is used to study bank mergers. Both loan rate … competition and liquidity needs are seen to be "localised" phenomena. This allows for tracing down the effects of particular types … of bank mergers. As such, we contrast the effects of "revenue base enhancing" mergers with the effects of mergers "for …

outside bank. In equilibrium, the borrower's ability to refinance depends both on the competitiveness of the local banking …, households are more likely to refinance externally if they already have a relation with more than one bank, but the effect is …

find that domestic competition does not seem to explain an excess or shortage of price changes at the sectoral level …

network of interbank exposures may lead to domino effects following the event of an initial bank failure. The structure of the …

Among the international policy institutions, the Bank for International Settlements (BIS) is known for its sensitivity … the BIS. The Bank's macro-prudential approach first came to the fore in the 1986 Cross Report. It defined the macro … that Alexandre Lamfalussy, who was at the BIS from 1976 to 1993, played a crucial role in shaping the Bank's approach to …